Fed emergency rate cut coming?

i’m not saying it will help but anyone else think Bernanke might throw up his hands with Congress and use all means currently available to him to stem this decline? i don’t think 50bps would help that much but i have no faith that congress can get anything done in time after today. buying on close for a quick trade looks like a good move right now i think

For what. It won’t do a damn thing. We are all F#CKED now!

I hope not.

they just injected $330 billion into the system today alone. We’re going to have a ZIRP policy soon unless Congress grants the Fed authority to pay interest on reserves. If authority is granted, Fed Funds would be meaningless, and the only reason the Fed would cut the target is in a desperate attempt to build confidence when in reality the cut “announcement” is a placebo. The Fed is out of bullets. The only bullets they do have is printing FRNs, kind of like Mugabe in Zimbabwe. I pray we don’t go down that road.

yeah, sadly, i don’t think 50bps or even 100bps would do much. perhaps in tandem with other policy measures it might work in concert with other maneuvers. i just think bernanke might give up on congress. i think he and paulson come out with a substantial statement and/or new policy measures by tomorrow.

I think Buffett should own the government…

the x factor in this crisis is that the economy is already showing signs of weakness. so even after we deal with the credit seizure we’ll already have a nice recession on our hands. LONG GOLD, SHORT CONGRESS

bigwilly Wrote: ------------------------------------------------------- > I think Buffett should own the government… +1

I hope they do, I just finished shorting the greenback in half of my accounts. Willy

Like John Pierpont Morgan around 1905.

How the heck that is going to help.

i’m not saying it alone will help but we just had the worst market day in 20 years and nothing indicates that anything is happening which will improve the economic situation.

I had made a little coin on UUP, the long dollar ETF over the last couple months as the greenback came back to life, I sold out a small loss (I like to use the term “professional loss”) recently as I think…well I think you know what I think…